The chart given above depicts that the way of payment witnessed a dramatic change in a certain city of China in the past few years. From 2015 to 2017, the proportion of payment in cash dropped at an alarming rate from 80% to 30%. However, that in WeChat and Alipay was on a sharp rise from 20% to 70%.
The underlying forces behind this tendency can be listed as follows. First and foremost, this situation is intimately connected with the widespread popularity of smart phones and computers, which provides a prerequisite for the emergence and prosperity of online payment. Furthermore, consumers in mounting numbers hold that compared with cash payment, mobile payment is characterized by safety, convenience and efficiency. At last, it goes without saying that the booming online business is another significant reason that cannot be ignored. It is reported that the revenues of cyber economy have increased by six times in the past decade.
All in all, the established trend reflected in the chart is bound to continue. It exerts a great influence on our daily life, which is beneficial and therefore acceptable.
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